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The Australian Bureau of Statistics released its GDP data on Wednesday. Australia's GDP climbed 0.9% in the third quarter, exceeding expectations for a 0.7% gain, after a 0.3% rise in the second quarter. The second quarter's figure was revised up from a 0.2% increase.
On a yearly basis, Australia's GDP rose 2.5% in the third quarter, beating expectations for a 2.3% increase, after a 1.9% gain in the second quarter. The second quarter's figure was revised down from a 2.0% rise.
Final consumption spending was up 0.7% in the third quarter.
Terms of trade dropped 2.4% in the third quarter, while real net national disposable income decreased 0.1%.
Mining jumped 5.2% in the third quarter, while new and used dwelling construction climbed 2.0%.
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